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$SPY Update, Rising Wedge Broken

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AMEX:SPY   SPDR S&P 500 ETF TRUST
As you can see, the market seems to be anticipating a negative FOMC meeting today, as a result, the rising wedge pattern we have been in has been broken. I expect this to retest $420 area short term, a long term wedge break would be below the $420 level, which in my opinion would indicate a macro correction near $380 levels.

Comments

Yes! 420. I hope we get to 425, 427 then 430 by next week
+1 Reply
mh. btfd!? !
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and here we gooooooo
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there are a few gaps below needs to be filled !!
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